Today was a mixed market with many movers around in both directions despite the closing bells on the indexes. The non-Farm Payrolls growth was only right before the ADP data and that more robust prediction artificially skewed expectations. The stock market was down less than 1% after the morning lows before recovering off lows in the afternoon. Crude oil sold off and gold was lower before trying a late-day comeback.

Here were the unofficial closing bell levels:

Dow Jones 11,674.76 -22.55 (-0.19%)
S&P 500 1,271.50 -2.35 (-0.18%)
Nasdaq 2,703.17 -6.72 (-0.25%)

Top Analyst Upgrades/Downgrades

If you are a shareholder of apparel entity Perry Ellis (PERY), you probably aren't so happy about the price action seen on Friday. The stock was off by 9%, on strong volume. The market just wasn't buying the earnings news.

What happened? According to Reuters, the situation didn't seem so bad. The company made 64 cents per share in the fourth quarter. That was a lot better than the $1.58 per-share loss observed in the comparable period twelve months ago. Furthermore, estimates were set at 59 cents per share. Come on, what gives? Plus, if you look at the actual press release, you'll find some encouraging commentary from management. The worst of the economic problems is hopefully behind the business; in addition, cash flow appears to be decent.

Not all companies in these love-struck industries are good buys. Here are 10 stocks to break up with this Valentine's Day.

• 1-800-Flowers (FLWS): A good gift, but a poorly run company that has posted a loss for three of the past four quarters.
• Hershey (HSY): Missing out on the Cadbury merger was not so sweet for Hershey.
• Cardiac Sciences (CSCX): It's hard to have a heart for a company that fails seven out of my eight fundamental screens.

Struggling retail giant Liz Claiborne (NYSE: LIZ) has hired turnaround consultant Alvarez & Marsal to help it cut costs and stem losses at the insistence of its creditors.

"We told [the lenders] that we've been doing everything we can to manage receivables and control inventory," Liz CEO Bill McComb said in an interview with The New York Post. "In the spirit of that, we said we would hire a consultant."

Here are some highlights from last week's earnings coverage from BloggingStocks:

• Applied Materials Inc. (NASDAQ: AMAT) posted better-than-expected Q3 results, sending shares higher.
• AutoDesk Inc. (NASDAQ: ADSK) reported better-than-expected Q2 earnings, sending shares higher.
• Blockbuster Inc. (NYSE: BBI) had another disappointing quarter as same-store sales declined.
• CIT Group Inc. (NYSE: CIT) delayed its Q3 report due to ongoing debt restructuring and a possible bankruptcy.
• Dr Pepper Snapple Group Inc. (NYSE: DPS) Q2 earnings came in well ahead of Wall Street expectations.

Fashion business Liz Claiborne (NYSE: LIZ) reported second-quarter results on Wednesday. Upfront warning: they're not for the faint of heart.

Sales declined 29%. The adjusted loss from continuing operations came in at 48 cents per share. The company made 11 cents in last year's Q2 on the same basis. According to Reuters, the market was expecting a loss of only 39 cents per share. Same-store sales were down double digits across Liz Claiborne's portfolio.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Adobe Systems Inc. (NASDAQ: ADBE) Q2 earnings were in line with expectations but sales beat.
• Best Buy Inc. (NYSE: BBY) beat earnings estimates for Q1, but on horrible metrics, sending shares lower.
• Carnival Corp. (NYSE: CCL) lower Q2 earnings beat expectations and previous guidance, boosting shares.
• CarMax Inc. (NYSE: KMX) Q1 profit and sales dropped, but still beat expectations, sending shares higher.
• Discover Financial Services (NYSE: DFS) posted a smaller-than-expected Q2 net loss and shares rose.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Abercrombie & Fitch Co. (NYSE: ANF) reported dismal Q1 numbers as same-store sales plunged.
• Applied Materials Inc. (NASDAQ: AMAT) dismal Q2 results were in line with analysts' expectations.
• Bankrate Inc. (NASDAQ: RATE) reported lower earnings and revenue for Q1 and offered no guidance.
• Blockbuster Inc. (NYSE: BBI) earnings, revenue, and same-store sales all fell in the first quarter.
• Dr Pepper Snapple Group (NYSE: DPS) Q1 earnings declined but still topped analysts' expectations.

Analyst upgrades:

• Oppenheimer upgraded FTI Consulting (NYSE:FCN) to Outperform from Perform on expectations the stock will outperform in the second half of 2009 due to easier comparisons and a "deeper and longer" restructuring cycle. The firm has a $62 target on shares.
• Citigroup upgraded Cigna (NYSE:CI) to Hold from Sell to reflect reduced balance sheet risk following the company's capital raise and the potential for a PBM sale. The firm raised its target price to $23 from $13.
• Goldman expects Coca-Cola Enterprises (NYSE:CCE) to benefit from favorable soda demand and lower commodity costs. The firm upgraded shares to Conviction Buy from Buy and has a $20 target on the stock.
• Novellus (NASDAQ:NVLS) was raised to Buy from Neutral at Bank of America/Merrill.
• CME Group (NASDAQ:CME) was upgraded at JP Morgan to Neutral from Underweight.
• Allegiant (NASDAQ:ALGT) was upgraded to Overweight from Equal Weight at Morgan Stanley.
  

Struggling clothier Liz Claiborne, Inc. (NYSE: LIZ) stepped into the earnings spotlight early this morning, and the stock is down sharply as investors react to a wider-than-forecast quarterly loss.

LIZ confessed to a first-quarter adjusted loss of 37 cents per share, or 97 cents per share on a GAAP basis. Analysts were expecting a much narrower loss of 22 cents per share. Sales for the period slipped nearly 29% to $779.7 million, falling well short of Wall Street's consensus estimate for revenue of $880.8 million.